SoftBank’s chip designer Arm extends gains after $65 bln Nasdaq debut

Shares of SoftBank’s Arm Holdings rose in volatile early trading on Friday, extending gains from a stellar Nasdaq debut that valued the British chip designer at $65 billion and lifted hopes of an end to the drought in U.S. listings.

The stock gave back most of its premarket gains after closing 25% above its offer price of $51 on Thursday. It was last up 29.2% from the IPO price at $65.89.